Breaking News-RTRS-Malaysia may scrap palm oil windfall tax - paper

KUALA LUMPUR, Oct 21 (Reuters) - Malaysia's government is considering removing a windfall tax on crude palm oil (CPO), the country's commodities minister was quoted as saying on Tuesday.
"CPO prices have been declining recently ... As such there is no need to implement the windfall tax," Plantation Industries and Commodities Minister Peter Chin told a conference on Monday, the Star newspaper reported.
The threshold for the windfall tax is 2,000 ringgit ($568.2) per tonneand CPO prices traded at 1,718 ringgit a tonne at the close of Malaysian trade on Monday.